Santam | The share's monthly RSI
has broken below an 11-year support zone
and is now at the lowest levels it's been at in 18 years. For long term holders, this is not a positive technical development as it suggests a long term technical shift from bullish
to moderately bearish
. The key demand/ supply zone
of 246 has struggled to hold, opening up 214-216 as a next target, of which a failure would see R190 come in to play.
This chart forms part of a larger research note. It should not be considered as financial advice.